rkruok talks about selling shares at ChipMeUp

posted by rkruok, 2 years ago (04 Dec 2009 04:31)



Creating Events on ChipMeUp
Hi, I am rkruok, and I have created over 1500 events on ChipMeUp. People from time to time ask me what the trick is to creating events on ChipMeUp. There is unfortunately no easy answer but there are definitely some things users can do to try and sell more shares.

1a. Event choice and share price
First of all, look at the event you are listing. Is it an expensive event? Will you play it regardless of whether you get investors? Lets say it’s the Sunday Million, and the buyin is $215, which is a more than your average buyin for tournaments. This means you need to try and get investors on-board to play the event. I am a firm believer that you are better off playing an event even if you only keep 50% of your profits than not to play at all. The more you play the more experience you get and also you have a great chance to win ½ of a very big pay day! Don’t be too greedy, 50% of $200k is still a lot of money! So now you have to enter the size of the shares you want to sell and set the price. If you keep the share amounts small you are more likely to attract investors, however there is a bit more managing to do. I typically advise to keep the share sizes to under 5% or $20. So for example, with the Sunday Million, selling $10 shares is not a bad idea. The price/value ratio should not be marked up too high, 120% is a reasonable value. Setting it at 120% implies you are a winning / break even player. Of course you should set it a little bit higher for your time and effort, but look at your stats and be honest. When you win a big tournament, then feel free to charge a bit more in the future. If you are new to the site, setting it close to 100% is a great way to get people investing in you.

If you are a player who has a big bankroll and you don’t really need investors to afford to play the event, then charging a higher premium is not unreasonable. Whilst reducing your variance is always a good idea, you can still charge investors a reasonable premium as you are not too desperate to sell shares. Eg. A 130%+ price value ratio, depending on your stats. If you are not selling many shares, feel free to lower your price.

For rebuy events, setting the price of the event can be tricky. One method is for example to set the buyin at $509 for a $100 rebuy event. If you do not use the extra rebuys, add the difference into your winnings.

1b. Custom Events
On ChipMeUp, you can create Custom Events. These are usually events that fall outside the standard MTT tournament. For example you can create events for cash games, a combination of sit and gos or even a combination of MTT tournaments. When creating these events, you still need to follow the above principles about setting reasonable price/value ratios in order to attract investors. Often it is a good idea to offer stakeback in these kind of events. If you want to make a special custom payout based on your own formula (which you should include in the description), select the custom payout method.

2. Build your Reputation
On ChipMeUp, it is important to build up a reputation and demonstrate to investors that you are a good honest reliable player. Starting off, by listing smaller buy-in events, and showing a good track record in these events will help get investors on board in the future. You can’t expect to sell the World Series Main event as your first event on ChipMeUp unless you are well known. However by building a reputation on ChipMeUp you can sell shares for big events down the track!

3. Communication
Once you have created an event on ChipMeUp, it is important to keep your buyers notified of what is going on. Posting comments in your event, about what happened is often a nice touch. Importantly you need to communicate if there are any changes to the event, and if a refund needs to be made.

4. Extra Features
On ChipMeUp there are extra ways to make your event more attractive. Offering stakeback is one way, which allows buyers to recoup their initial investment, before you split the profits. Advertising your events through highlighting, banners and on the PokerNews front page is a great way to get more exposure for your event on ChipMeUp. Including in the description of the event, your stats or your track record in this particular tournament can also help attract more buyers.

5. Managing the $
When you sell shares, buyers will send you money for you to play the event. Choosing the right payment methods is important when creating an event. By selecting more payment methods, you can get more investors, however you might want all the money on a particular site. The easiest way to manage share purchases on ChipMeUp is by using ChipMeUp dollars. People will send you money to your account on ChipMeUp and everything is automatic. You do not need to verify the money has gone through, and you can make payouts easily too. If you need to withdraw money then send a request to the admin, it’s easy!

6. Final Steps
After you play your event, you need to enter your results. This is important as it keeps buyers informed as to how you went. Make sure you make prompt payments if you cash. In the case of delays, message your buyers as to what is going on. Also giving feedback on buyers and sellers helps people verify the trustworthiness of users on ChipMeUp.

Comments

missi (2 years ago - 04 Dec 2009 05:17 UTC) Nice photo and great article!

TornadeoJim (2 years ago - 04 Dec 2009 07:57 UTC) very good information for new comers

WRCKNGBLL (2 years ago - 04 Dec 2009 09:00 UTC) nice rayan…. now how about listing some events mate… i got a good feeling you going to make a couple of big scores before Christmas… last time i had that feeling was with nomad but i missed his shares!

Poort (2 years ago - 04 Dec 2009 09:26 UTC) Very nice Rayan!

nomaddman (2 years ago - 04 Dec 2009 10:02 UTC) Also step 5a. Run like god :P

DIAMONDxxx (2 years ago - 04 Dec 2009 12:59 UTC) Great stuff Rayan!Good Luck as usual!

__DAVE__ (2 years ago - 04 Dec 2009 13:16 UTC) nice 1 can hopefully direct the newbies here

Free_Rollin (2 years ago - 04 Dec 2009 14:03 UTC) Nice article, definitely helped me out a bit!

Stievie (2 years ago - 04 Dec 2009 14:11 UTC) What are the two guys on the Photo looking for?

Icemanando (2 years ago - 05 Dec 2009 23:33 UTC) great stuff, very helpful thanks for this.

BlakeInIndy (2 years ago - 05 Dec 2009 23:48 UTC) chips, by the look of their stacks :O

MDMWINS (2 years ago - 06 Dec 2009 10:45 UTC) Hot chicks would be my #1 guess

genchoo (2 years ago - 29 Dec 2009 23:00 UTC) Thanks for the tutorial.

vone28 (2 years ago - 30 Dec 2009 11:05 UTC) breaks down with simplicity as to how this site works. good job rkruok!

LTasdf (2 years ago - 30 Dec 2009 11:29 UTC) I am new in chipmeup, this will help, thank you!

KalleM (2 years ago - 30 Dec 2009 18:34 UTC) T olate for my but very gfood for the beginners.

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